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December 12, 2023

In Contract Management, Tomorro Secures €11M Funding to Drive Innovation

Embarking on a venture capital journey like never before, French startups dazzled the financial landscape drawing $4.8B

In the fast-paced world of French startups, the first half of 2023 witnessed an impressive $4.8 billion in VC investment, propelling France to the 3rd spot in Europe and 6th globally. Accounting for a quarter of all funds raised in Europe, the nation continues its venture capital ascent. In the latter half of the year, notable funding rounds featured Mistral AI, ProvenRun, and Pimento, solidifying France's status as a thriving startup hub.

Adding a new star to the constellation of innovative French startups is Tomorro (formerly Leeway), a game-changer in the contract management sphere. The Paris-based startup recently secured a substantial €11 million in funding from Resonance, with the backing of Financière Saint James, Motier Ventures, and its historic investors HenQ. Having previously raised €3.5 million, Tomorro is on a mission to revolutionize the contract management market.

The infusion of funds is earmarked for bolstering commercial acceleration, product development with Gen AI integration, and an ambitious recruitment plan. Tomorro aims to welcome over 30 new talents by the end of 2024, fueling its product marketing and spearheading European expansion.

According to a World Commerce & Contracting Federation study, inefficient contract management can drain a company's profits by up to 9% annually. Tomorro, founded in 2019 by Antoine Fabre, Sébastien Decrême, and Thibaut Caoudal, emerges as the solution to streamline collaboration among operational teams, expediting internal contractual processes.

Ditching the need for separate use of Microsoft Word and Excel, Tomorro's Contract Lifecycle Management (CLM) tool significantly slashes the time required for contract processing. The integration of AI amplifies automation, providing invaluable assistance throughout the contract life cycle.

With an impressive clientele boasting over 200 companies in France and Europe, including Qonto, Vinci, and Ingenico, Tomorro has proven its mettle in enhancing productivity. Victoire Solly, Legal Ops at Qonto, attests, "Without Tomorro, the legal team would simply not be able to manage Qonto’s rapid growth."

Maxime Le Dantec, co-founder & Partner at Resonance, hails Tomorro as the "CRM for contracts in the enterprise," offering a collaborative experience akin to GoogleDocs. As Antoine Fabre, co-founder & CEO of Tomorro, aptly puts it, "This new round of financing was necessary to enable Tomorro to establish itself as a leader in France and prepare for the future with international ambitions."

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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